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Analysen Haushaltspolitik; Chancen und Risiken der neuen Schuldenbremse – eine juristisch-ökonomische Analyse

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  • Pinto Marco de
  • Husemann Tim

Abstract

The German debt brake, reformed in March 2025, raises questions about its economic impact and constitutional design. This paper provides an interdisciplinary analysis of these reforms. Economically, it shows that a growth-oriented use of new borrowing capacities is theoretically possible. However, such an allocation of financial resources is not legally mandated. Legally, it becomes clear that the Basic Law was broadly formulated due to its function within the normative framework, thus allowing for imprecise uses. The analysis illustrates that the new debt brake does not automatically contribute to future viability. Securing this remains a necessary subject of scientific debate across disciplinary boundaries.

Suggested Citation

  • Pinto Marco de & Husemann Tim, 2025. "Analysen Haushaltspolitik; Chancen und Risiken der neuen Schuldenbremse – eine juristisch-ökonomische Analyse," Wirtschaftsdienst, Sciendo, vol. 105(7), pages 499-504.
    • Handle: RePEc:vrs:wirtsc:v:105:y:2025:i:7:p:499-504:n:1011
    DOI: 10.2478/wd-2025-0130
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    JEL classification:

    • H61 - Public Economics - - National Budget, Deficit, and Debt - - - Budget; Budget Systems
    • H54 - Public Economics - - National Government Expenditures and Related Policies - - - Infrastructures
    • K34 - Law and Economics - - Other Substantive Areas of Law - - - Tax Law
    • E62 - Macroeconomics and Monetary Economics - - Macroeconomic Policy, Macroeconomic Aspects of Public Finance, and General Outlook - - - Fiscal Policy; Modern Monetary Theory

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